Weekly Futures Recap With Mike Seery

We've asked Michael Seery of SEERYFUTURES.COM to give our INO readers a weekly recap of the Futures market. He has been Senior Analyst for close to 15 years and has extensive knowledge of all of the commodity and option markets.

Michael frequently appears on multiple business networks including Bloomberg news, Fox Business, CNBC Worldwide, CNN Business, and Bloomberg TV. He is also a guest on First Business, which is a national and internationally syndicated business show.

Crude Oil Futures

Crude oil futures in the January contract settled last Friday in New York at 58.36 a barrel while currently trading at 57.27 down about $1 for the week. I was recommending a bullish position from around the 53.15 level getting stopped out earlier in the week around 56.20 as prices hit a two week low as that is my exit strategy if I have a bullish position. Crude oil prices are still trading right at their 20-day but above their 100-day moving average as the trend is mixed to higher in my opinion as heating oil and unleaded gas are both ending the week sharply higher as strong demand continues to push prices near contract highs. The commodity markets, in general, this week saw some significant selling to the downside including crude oil over the last couple of days, and I think a lot of this is just year-end selling as my only trade recommendation at the current time is a bullish position in cotton as many trends are mixed. However, I do believe when we enter 2018 bullish trends across the board will come back as the U.S. economy certainly is improving. Volatility in crude oil has started to accelerate which is not surprising in my opinion, and I think volatility in all of the commodities is going to expand significantly next year as that has been the problem in 2017. We experienced have low volatility across the board including the stock market despite the fact that we are at all-time highs so sit on the sidelines & let's wait for another trend & the risk/reward to become in your favor once again as I still think higher prices are ahead.
TREND: MIXED - HIGHER
CHART STRUCTURE: SOLID
VOLATILITY:INCREASING

Continue reading "Weekly Futures Recap With Mike Seery"

Jobs Report Boost Stocks

Hello traders everywhere. A better-than-expected jobs report has given life to a rather dull week for stocks. The U.S. economy added 228,000 jobs last month, according to the Bureau of Labor Statistics. Economists polled by Reuters expected a gain of 200,000. The unemployment rate held steady at 4.1%.

Average hourly earnings, a closely watched component of the report, rose 0.2% for November and 2.5% for the year. Economists expected a monthly increase of 0.3% or 2.7% for the year.

The Federal Reserve is scheduled to meet next week, and with the strong jobs numbers and a growing U.S. economy expect the Fed to stay on track and announce an interest rate hike on Wednesday.

MarketClub's Mid-day Market Report

The other big news today is Bitcoin, which will begin futures trading on the CBOE Sunday, Dec. 10th. At 5 pm EST using the symbol (XBT). Bitcoin has had a strong week heading into futures trading with a gain of 45% on the week, before a sell-off of 13% today, but it has backed off the lows of the session to only be down 5% this afternoon. Continue reading "Jobs Report Boost Stocks"

Bank Stocks Lead The Way

Hello traders everywhere. Traders have apparently decided that an old standby is where they want to invest vs. the hottest sector of 2017. That old standby, the big banks.

I opened MarketClub's Top Stocks list this morning after the DOW and S&P 500 opened significantly higher to find that Bank of America (NYSE:BAC) was sitting at the top. In fact, three of the top 5 were big banks. It's a far cry from the tech sector that has been all the rage until recently.

MarketClub's Mid-day Market Report

This change in sentiment is primarily due to tax reform. On Saturday the Senate approved their version of the tax bill in a narrow 51-49 vote after a lot of work on the hill. Once the Senate and House of Representatives reconcile their respective versions of the legislation, the resulting bill could cut corporate tax rates to 20% from 35%.

The GOP, however, still needs to overcome future obstacles for the Senate and the House to craft a joint bill, which will then be presented to President Donald Trump. Republicans hope a deal will be achieved by Christmas.

Key levels to watch next week: Continue reading "Bank Stocks Lead The Way"

Weekly Futures Recap With Mike Seery

We've asked Michael Seery of SEERYFUTURES.COM to give our INO readers a weekly recap of the Futures market. He has been Senior Analyst for close to 15 years and has extensive knowledge of all of the commodity and option markets.

Michael frequently appears on multiple business networks including Bloomberg news, Fox Business, CNBC Worldwide, CNN Business, and Bloomberg TV. He is also a guest on First Business, which is a national and internationally syndicated business show.

Crude Oil Futures

Crude oil futures in the January contract settled last Friday in New York at 58.95 a barrel while currently at 57.81 down about $1 for the week unable to crack the critical $60 level at this time. I have been recommending a bullish position from the 53.15 level & if you took that trade place the stop loss come Monday at 55.75 as it will also improve on a daily basis, therefore, lowering the monetary risk as volatility remains relatively low despite the fact that prices are right at a two year high. Oil prices are trading above their 20 and 100-day moving average as the trend remains higher, but for the bullish momentum to continue, we have to break through the November 24th high of 59.05 as demand continues to support prices here in the short term. Couple that with the fact that the U.S. stock market hit another all-time high this week telling you that economies worldwide and in the United States are improving, therefore, increasing demand for oil in the short term. At the current time, crude oil is my only recommendation out of the energy sector, and I'm also keeping a close eye on natural gas which is experiencing high volatility presently. I'm looking for a possible bottom developing in that market soon.
TREND: HIGHER
CHART STRUCTURE: SOLID - IMPROVING
VOLATILITY: LOW

Continue reading "Weekly Futures Recap With Mike Seery"

Stocks Rebound After Flynn Report

Hello traders everywhere. The stock market went on a wild roller-coaster ride Friday, falling sharply on a report by ABC News that Michael Flynn was directed by President Trump to talk to the Russians.

The DOW fell over 300 points before recovering to trade about 80 points lower on the day. In afternoon trading, the S&P 500 was down by 0.40% and the Nasdaq by 0.65% after rebounding from losses of more than 1% earlier in the day.

MarketClub's Mid-day Market Report

Gold rebounded after three straight days of losses to trade up about .50% on the day as traders jumped to the haven as stocks fell.

Bitcoin has also traded back above 10,500 today as the road to Wall Street was paved today with an announcement from the CME Group Inc. that it's futures contracts will debut Dec. 18. Cboe Global Markets Inc. didn't announce a start date as both got the green light Friday after going through a process called self-certification - a pledge to the U.S. Commodity Futures Trading Commission that the products don't run afoul of the law.

Key levels to watch next week: Continue reading "Stocks Rebound After Flynn Report"